Clifford Chance has advised Solarpack Corporacion Tecnologica, S.A. (Solarpack) on arranging the financing for the development, construction and operation of a (photovoltaic) solar farm in the Atacama Desert in Chile. The total investment value for the "La Granja" project is around USD 114 million. KfW IPEX-Bank, which specialises in international project and export financing, provided most of the amount required in the form of a long-term loan facility.
Clifford Chance also advised Solarpack on the contractual arrangements relating to planning, procurement, construction, operation and maintenance. Completion of the 123 MW solar park is scheduled for 2019. Power purchase agreements with 25 regional transmission grid operators will ensure the purchase of the power generated by the facility from 2021 up to 2040, with any surplus power being sold on the spot market.

Solarpack is based in Getxo (Spain) and is an independent solar energy supplier with projects in Europe, North America, Latin America, Asia and Africa.

The international Clifford Chance team was led by partners Florian Mahler (Finance, Dusseldorf) and partner Jose Guardo (Finance, Madrid) and comprised senior associate Bahar Rahimyar and associate Pamela Horn (both Finance, Dusseldorf), associate Eduardo Sanchez und trainee lawyer Gabriel Miranda (both Finance, Madrid).